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Employees of Laiki Bank, left, push barriers as riot police try to stop them during an anti-bailout protest outside the Cypriot parliament in Nicosia, Cyprus Petros Karadjias/AP/Press Association Images

Eurogroup ready to discuss new Cyprus proposal

The group reaffirmed the importance of fully guaranteeing deposits below €100,000 in the EU.

THE EUROGROUP HAS said it is ready to discuss a new proposal with the Cypriot authorities.

In a statement this evening, the Eurogroup said it had held a teleconference, and that following this it “stands ready to discuss with the Cypriot authorities a draft new proposal, which it expects the Cyprus authorities to present as rapidly as possible”.

The Eurogroup would subsequently, on the basis of a Troika analysis that needs to be undertaken, be prepared to continue negotiations in an adjustment programme, while respecting the parameters defined earlier by the Eurogroup. After the conclusion of such negotiations the Cyprus authorities should begin legislating the elements of such an agreement.

The Eurogroup also reaffirmed the importance of fully guaranteeing deposits below €100,000 in the EU, adding that the Euro area member states continue to stand ready to assist the Cypriot people in their reform efforts and ensure the stability of the euro area as a whole.

Also this evening, Sky News reports that Cyprus’s second biggest lender has limited cash withdrawals.

Meanwhile, employees of Laiki Bank are among those who took part in an anti-bailout protest outside the Cypriot parliament in Nicosia today.

RTÉ reports that a bill has been submitted to the country’s parliament that would allow capital controls to be imposed on banks.

Banks will remain closed until Tuesday. Earlier today, Bank of Cyprus said that it urged a bailout deal to save the island from ruin.

Read: Bank of Cyprus urges bailout deal to save island from ruin>

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54 Comments
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    Mute Aishling Keogh
    Favourite Aishling Keogh
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    Aug 21st 2012, 4:05 PM

    Niall have some empathy for this mans family, he suffered a horrific death, RIP, my thoughts are with his family at this sad time :(

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    Mute Joan Featherstone
    Favourite Joan Featherstone
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    Aug 21st 2012, 8:39 PM

    Sorry ‘bad’ taste!

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    Mute Michael Stamp
    Favourite Michael Stamp
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    Aug 21st 2012, 9:45 AM

    A surreal and terrible way to die.

    38
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    Mute Lorraine Furlong
    Favourite Lorraine Furlong
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    Aug 21st 2012, 10:13 AM

    Pure Evil , Rip . . . :-(

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    Mute Sean Quigley
    Favourite Sean Quigley
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    Aug 21st 2012, 7:44 PM

    sorry man dont get it!! how can she be released and detained at the same time??

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    Mute Edward Carr
    Favourite Edward Carr
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    Aug 21st 2012, 7:50 PM

    Is that necessary Niall?rip walter

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    Mute pip white
    Favourite pip white
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    Aug 21st 2012, 7:45 PM

    It is awful. but his daughter told the newspapers all about it. Is that not worse!

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    Mute Joan Featherstone
    Favourite Joan Featherstone
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    Aug 21st 2012, 8:39 PM

    Niall, Love a laugh, but that remark was really really taste!

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    Mute Niall
    Favourite Niall
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    Aug 22nd 2012, 1:16 AM

    They removed my comment! :( now that’s censorship! All of you hop off your bloody morality pedestal and realise this mans death is no more or less significant than any other death that is regularly joked about!

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    Mute Emma louise coffey
    Favourite Emma louise coffey
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    Aug 22nd 2012, 2:10 AM

    Strangely enough most people don’t find the death of a person funny… you idiot Neil!

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    Mute Michael Stamp
    Favourite Michael Stamp
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    Aug 22nd 2012, 9:52 AM

    Have to agree with Niall. . .There must be respect for the family but it IS an unusual story and one which if it happened abroad would be joked about. The “pure evil” comment is really funny, though. Down with this sort of thing!

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